Hims & Hers Health (NYSE:HIMS) Stock Rating Lowered by Morgan Stanley

Hims & Hers Health (NYSE:HIMS) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $60.00 price objective on the stock, up from their previous price objective of $42.00. Morgan Stanley’s target price points to a potential downside of 0.68% from the stock’s previous close.

A number of other brokerages have also recently issued reports on HIMS. TD Cowen restated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler boosted their price target on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Bank of America cut Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their price target for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.33.

Hims & Hers Health Price Performance

Shares of HIMS opened at $60.41 on Tuesday. The firm has a market capitalization of $13.20 billion, a PE ratio of 137.31 and a beta of 1.35. The company’s 50-day moving average is $32.61 and its 200-day moving average is $24.60. Hims & Hers Health has a fifty-two week low of $9.22 and a fifty-two week high of $64.84.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 7,259 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $43.28, for a total value of $314,169.52. Following the completion of the transaction, the insider now directly owns 193,601 shares in the company, valued at approximately $8,379,051.28. This represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Melissa Baird sold 67,687 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $44.71, for a total value of $3,026,285.77. Following the sale, the chief operating officer now owns 706,872 shares in the company, valued at $31,604,247.12. This represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,332 shares of company stock worth $32,620,497 over the last 90 days. Insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Hedge funds have recently made changes to their positions in the company. SlateStone Wealth LLC boosted its position in Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after buying an additional 413 shares during the period. Blume Capital Management Inc. raised its stake in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Hims & Hers Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock worth $480,000 after purchasing an additional 628 shares during the period. Quest Partners LLC grew its stake in shares of Hims & Hers Health by 22.6% in the third quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after purchasing an additional 807 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in Hims & Hers Health by 18.8% in the fourth quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after purchasing an additional 833 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.